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Showing contexts for: average emoluments in Reserve Bank Of India And Others vs Shadi Lal Sharma on 30 July, 2019Matching Fragments
(iii) Admittedly, basic pension was fixed on the basis of the average emoluments received during the last ten months preceding the date of his retirement and the respondent also received commutation.
(iv) It appears that the pay and allowances of the employees of the Bank were revised under an Administration Circular No. 7 dated 11.04.2016, with retrospective effect from 01.11.2012.
Since the respondent reached superannuation on 31.01.2013, he was granted the benefit of the revised pay and allowances with effect from 01.11.2012 up to the date of his retirement.
(vii) As per Regulation 28 of the Reserve Bank of India Pension Regulations, 1990, (hereinafter referred to the Regulations), the rate of basic pension has to be 50% of the average emoluments. The expression "average emoluments" is defined in Regulation 2 (2) to mean the average of pay drawn by an employee during the last ten months of his service.
(viii) The Reserve Bank of India Pension Regulations, 1990 were amended by a Notification bearing No. Co.HRMD No.6563/21.01/201718 dated 28.08.2017. By this Notification, the following words were directed to be inserted, after the words "average emoluments" appearing Regulation 28:
(xi) If the rate of basic pension as per Regulation 28, as amended by the Notification dated 28.08.2017 was to be fixed, the same could have been fixed either at 50% of the average emoluments or at 50% of the last pay drawn. The calculation of the rate of basic pension on the basis of the last pay drawn, rather than on the basis of average emoluments, was to be more beneficial to the respondent, as he had the benefit of revision of pay only for a period of three months before .
6. But as we have pointed out in the paragraph providing the narration of the historical background, Regulation 28 of the RBI Pension Regulations, 1990 as it originally stood, provided only for the calculation of basic pension at the rate of 50% of the average emoluments. The expression "average emoluments" was defined in Regulation 2 (2) to mean the average of pay drawn by an employee during the last ten months of his service.